Attached files
| file | filename |
|---|---|
| 8-K - FORM 8-K - LCNB CORP | lcnb8k12811.htm |
| EX-99 - EXHIBIT 99.1 - LCNB CORP | ex991.htm |
Exhibit 99.2
LCNB Corp. and Subsidiaries
Financial Highlights
(Dollars in thousands, except per share amounts)
Condensed Income Statement | Three Months Ended December 31, | Twelve Months Ended December 31, | ||||||
2010 | 2009 | 2010 | 2009 | |||||
Interest income | $ | 8,414 | 8,821 | 33,989 | 34,853 | |||
Interest expense | 1,986 | 2,351 | 8,334 | 10,060 | ||||
Net interest income | 6,428 | 6,470 | 25,655 | 24,793 | ||||
Provision for loan losses | 693 | 430 | 1,680 | 1,400 | ||||
Net interest income after provision | 5,735 | 6,040 | 23,975 | 23,393 | ||||
Non-interest income | 2,704 | 1,894 | 8,929 | 7,248 | ||||
Non-interest expense | 5,309 | 4,916 | 21,238 | 20,660 | ||||
Income before income taxes | 3,130 | 3,018 | 11,666 | 9,981 | ||||
Provision for income taxes | 772 | 726 | 2,518 | 2,271 | ||||
Net income from continuing operations | 2,358 | 2,292 | 9,148 | 7,710 | ||||
Income from discontinued operations, net of taxes | 62 | 28 | 225 | 56 | ||||
Net income | 2,420 | 2,320 | 9,373 | 7,766 | ||||
Preferred stock dividends and discount accretion | - | 594 | - | 1,108 | ||||
Net income available to common shareholders | $ | 2,420 | 1,726 | 9,373 | 6,658 | |||
Dividends per common share | $ | 0.16 | 0.16 | 0.64 | 0.64 | |||
Basic earnings per common share: | ||||||||
Continuing operations | 0.35 | 0.26 | 1.37 | 0.99 | ||||
Discontinued operations | 0.01 | 0.01 | 0.03 | 0.01 | ||||
Diluted earnings per common share: | ||||||||
Continuing operations | 0.34 | 0.25 | 1.36 | 0.98 | ||||
Discontinued operations | 0.01 | 0.01 | 0.03 | 0.01 | ||||
Average basic shares outstanding | 6,688,285 | 6,687,232 | 6,687,500 | 6,687,232 | ||||
Average diluted shares outstanding | 6,738,090 | 6,721,681 | 6,736,622 | 6,701,309 | ||||
Selected Financial Ratios | ||||||||
Return on average assets | 1.23% | 1.23% | 1.22% | 1.07% | ||||
Return on average equity | 13.09% | 13.33% | 13.36% | 10.43% | ||||
Dividend payout ratio | 44.22% | 58.41% | 45.66% | 64.39% | ||||
Net interest margin (tax equivalent) | 3.75% | 3.99% | 3.88% | 3.96% | ||||
Selected Balance Sheet Items | December 31 2010 | December 31, 2009 | ||
Investment securities | $ | 251,053 | 217,639 | |
Loans | 454,991 | 460,416 | ||
Less allowance for loan losses | 2,641 | 2,998 | ||
Net loans | 452,350 | 457,418 | ||
Total assets | 760,134 | 734,409 | ||
Total deposits | 638,539 | 624,179 | ||
Short-term borrowings | 21,691 | 14,265 | ||
Long-term debt | 23,120 | 24,960 | ||
Total shareholders’ equity | 70,707 | 65,615 | ||
Shares outstanding at period end | 6,689,743 | 6,687,232 | ||
Book value per share | $ | 10.57 | 9.81 | |
Equity to assets ratio | 9.30% | 8.93% | ||
Assets Under Management | ||||
LCNB Corp. total assets | $ | 760,134 | 734,409 | |
Trust and investments (fair value) | 223,545 | 197,125 | ||
Mortgage loans serviced | 70,705 | 57,369 | ||
Business cash management | 9,591 | 17,902 | ||
Brokerage accounts (fair value) | 82,385 | 72,202 | ||
Total assets managed | $ | 1,146,360 | 1,079,007 |